NEW YORK: Shares of Mattel rocketed higher Thursday following a report the toymaker had attracted takeover interest from licensing giant Authentic Brands Group.
Privately-held Authentic Brands "has made an approach" and been "privately discussing an offer" valuing Mattel at more than US$20 a share, or around US$6 billion or more, according to a Wall Street Journal report that cited people familiar with the matter.
Shares of Mattel were up 20.6% to US$15.27 near 1920 GMT.
Mattel, whose brands include Barbie, Fisher-Price, Hot Wheels and Thomas & Friends, announced on Wednesday that Roger Lynch, CEO of Conde Nast and a Mattel board member, would become chief executive from Oct 2.
